- Rush and John Smedley among British brands to attend India’s Fashion Forum 2023, the country’s largest fashion retail information event
- First delegation of its kind to seek to capitalize on India’s demand for premium beauty and fashion products
- The mission of the sale is for the UK and India to negotiate a free trade agreement to create further opportunities for UK brands.
The UK’s top brands are traveling to India this week on a mission to capitalize on the rapidly growing demand for high-end fashion and beauty products.
A delegation including British success stories such as Lush and luxury knitwear brand John Smedley will attend India Fashion Forum 2023, the country’s leading international trade fair in Bengaluru.
The trade mission is the first of its kind and was organized by the Department of Commerce and Trade to help UK brands showcase their expertise in luxury, heritage and innovation to potential buyers and distributors. I was.
Commerce Secretary Kemi Badenok said:
India’s growing economy and middle class present great opportunities for enterprising British companies looking for new markets.
Removing barriers to business and facilitating exports are two of my top trade priorities, and we are making it easier and faster to do business with India through the currently negotiated free trade agreement. I want to be like you.
India is expected to become the third largest economy by 2050, with 250 million middle class consumers by then.
According to Robb’s report, India’s luxury goods market is expected to surpass $5 billion in 2021 and grow another 10% over the next five years.
Anita Baker, Managing Director, MENA Lush Fresh Handmade Cosmetics, said:
Rush is very happy to participate in this trading mission. He is confident that in India, which has deep roots in natural cosmetics, we will find partners who practice our ethics.
India can be a very large market and we aim to provide the great customer experience Indian shoppers have come to expect from visiting shops around the world.
Bill Leach, John Smedley’s Global Sales Director, said:
India is one of the fastest growing luxury markets in the world and we are very excited to be participating in the Fashion Forum as part of our trade mission.
The UK-India Free Trade Agreement, which is currently being negotiated, is expected to be completed in the coming months, making more of the world’s finest knitwear available to a growing number of discerning luxury consumers in India. It is expected.
Negotiations on a forward-looking trade deal with India continue, with the countries already enjoying £34 billion worth of current trade ties by the end of September 2022.
The deal, which is expected to boost the UK economy by billions of dollars in the long term, is part of the UK’s strategy to forge stronger partnerships with the Indo-Pacific’s burgeoning economies.
The UK wants a deal that will remove barriers to doing business and trading with India’s £2 trillion economy and market of 1.4 billion consumers. This includes lower tariffs on the exports of UK companies such as Lush and John Smedley.
Background
- The UK and India currently enjoy a strong trade relationship, with bilateral trade amounting to £34 billion (year to Q3 2022). Our investment relationships support more than 500,000 jobs for her across both economies.
- India accounts for 1.7% of total UK exports and is the 12th largest UK export market for the four quarters to the end of Q3 2022.
- The Indo-Pacific region accounts for 40% of the world’s GDP and is one of the fastest growing economies in the world.
- Companies participating in the fashion and beauty trade mission are:
Lush – www.lush.com
John Smedley Limited – www.johnsmedley.com
Wormser – www.wormsergroup.com
Raishma Ready to Wear Ltd – https://raishma.co.uk
Organic Apotheke – www.organicapoteke.com
Lily and Sid – www.lillyandsid.com
Legology – https://legology.co.uk/
Benny Hancock – www.bennyhancock.com
VENIA Cosmetic Co., Ltd. – www.veniacosmetic.com
Jennifer Young Co. – www.beautydespitecancer.com
ByErim Ltd – www.byerim.com
